TORONTO, ONTARIO--(Marketwire - July 10, 2012) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) ("Dundee") announces that it has acquired, in a private placement, 10,000,000 units (each a "Unit") of Creso Exploration Inc. ("Creso") at a price of $0.05 per Unit. Each Unit consists of one common share in the capital of Creso issued on a flow-through basis and one-half of a common share purchase warrant ("Warrant"). Each whole Warrant entitles Dundee to purchase one common share at the price of $0.10 for a period of two years. Dundee now owns, directly and indirectly, 13,589,000 common shares and 6,000,000 warrants, representing an approximate 11.43% interest in Creso on an undiluted basis, or 15.69% assuming the exercise of all warrants.

The position in Creso was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.